InsuringIndia.com is India’s first multilingual ecommerce portal and the leading online insurance aggregator.
We provide a simple and intelligent customer-centric online platform for our clients, in their language of choice, to compare, choose and purchase all types of insurance products.
We also provide services to manage policies online

Monday, March 3, 2014

Cigna TTK Health Insurance begins its operations

The latest entrant in the standalone health insurance
segment Cigna TTK Health Insurance Company on Tuesday began its operations in
India.

The insurer has got the necessary regulatory approval from the Insurance
Regulatory and Development Authority (IRDA) for a retail health insurance
product and plans to launch group health insurance products by next financial
year.

Cigna TTK is a joint venture between the Cigna Corporation, a US-based global
health services provider and the TTK Group, an Indian business conglomerate
which is present across several segments of industry. The Cigna Corporation
holds the maximum permissible share of 26% in the joint venture, while the TTK
Group holds the lion share of 74%.

Initially, the joint venture has invested $22 million in the business. The
insurer has planned to start operations with 6 branches in major cities,
informed Mr. Sandeep Patel, CEO, Cigna TTK.

The product we are bringing to the market addresses multiple segments, said Mr.
Patel adding, “Apart from the regular benefits of a health insurance policy,
such as hospitalisation, the product will also provide health maintenance
benefits and rewards as a feature for all its products."

Since Cigna is present in 180 countries, the health insurance products will
have worldwide cover through its propriety networks.

Cigna TTK is looking at a multi-channel distribution strategy and is in the
process of launching an agency channel. It is also in discussion with banks and
non-banking finance companies for a corporate agency tie-up for distribution.